Yellen: US economy strong but some areas slowing, with potential for more bank consolidation and crypto enforcement.

US Treasury Secretary Janet Yellen expects continued progress in bringing inflation down over the next two years with a strong labor market, while some areas of the economy are slowing down. Yellen also said that banks may struggle with commercial real estate and face some consolidation, but there is ample liquidity in the system and banks should generally be able to withstand any strain. She added that U.S. financial regulators have tools to protect U.S. investors and consumers on crypto assets, and it was appropriate for the Securities and Exchange Commission to examine these for further actions.